Dah Sing Bank spun off from parent

Pricing comes at the bottom of the indicative range in a weak IPO environment.
June 26, 2004

Lead managers CLSA and HSBC had to price a 182 million share IPO for Dah Sing Bank at the bottom of the range on Friday after the institutional order book closed just 1.1 times covered. Market participants describe the HK$2.3 billion ($296 million) deal as one of the most challenging Hong Kong IPO's of the year.

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